11798691 2023-01-01 2023-12-31 11798691 2023-01-01 2023-12-31 1 11798691 2023-01-01 2023-12-31 1 11798691 2023-01-01 2023-12-31 2 11798691 2023-01-01 2023-12-31 3 11798691 2022-01-01 2022-12-31 11798691 2023-12-31 11798691 2022-12-31 11798691 2021-12-31 fsa:ContributedCapitalMember 11798691 2022-12-31 fsa:ContributedCapitalMember 11798691 2021-12-31 fsa:RetainedEarningsMember 11798691 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 11798691 2022-12-31 fsa:RetainedEarningsMember 11798691 2021-12-31 11798691 2023-12-31 fsa:ContributedCapitalMember 11798691 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 11798691 2023-12-31 fsa:RetainedEarningsMember xbrli:pure iso4217:DKK 37 Charlotte Bertelsen Statement by the Board of Directors and Executive Boards Statement by the Board of Directors and Executive Boards Today, the Board of Directors and the Executive Board considered and approved the annual report for the financial year 1 January – 31 December 2023 of COMAR Engineers A/S. The annual report has been prepared in accordance with the Danish Financial Statements Act. In our opinion, the accounting policies applied are appropriate and the accounting estimates made are adequate. Furthermore, we find the overall presentation of the financial statement to be true and fair. In our opinion, the annual report gives a true and fair view of the company's assets, liabilities, equity and the activities for the financial year 1 January – 31 December 2023 in accordance with the Danish Financial Statements Act. In our opinion, the management's review gives a fair presentation of the issues covered and describes the company's most material risks and uncertainties. The annual general meeting has decided that the company's annual report should not be audited. The conditions for omitting audit have been met. The annual report is recommended for approval at the annual general meeting. Kongens Lyngby COMAR Engineers A/S Parallelvej 2 2800 Kongens Lyngby Lyngby-Taarbæk Management Review Development in activities and financial matters The profit for the year for the fiscal year 1 January to 31 December 2023 is DKK -44,275 and the total balance at 31 December 2023 is DKK 708,168 with an equity of DKK 663,901. Events after the balance sheet date No events of material importance to the company’s financial statements have occurred after the reporting date at 31 December 2023. The conditions for omitting audit have been met. The company's principal services The company's principal activity is to act as a holding company in the COWI Group. Accounting policies Accounting policies Reporting Class The 2023 annual report for COMAR Engineers A/S has been prepared in accordance with the provisions of the Danish Financial Statements Act for medium-sized enterprises in reporting class B. Foreign currency translation The financial statements for the company are presented in Danish kroner (DKK). The functional currency is DKK. Transactions in foreign currencies are initially translated into the primary economic environment in which the company operates (the functional currency), applying rates approximating the exchange rates at the transaction date. Exchange rate adjustments arising due to differences between the rates at the transaction date and the rates at the payment date are recognised in financial income or financial costs in the income statement. Receivables, payables and other monetary items in foreign currencies not settled at the balance sheet date are translated at exchange rates prevailing at the balance sheet date. Exchange rate adjustments arising due to differences between the rates at the balance sheet date and the transaction date are recognised as financial income or financial costs in the income statement. Recognition and measurement Income is recognised in the income statement as earned. Costs incurred in generating the revenue for the year are recognised in the income statement, including amortisation, depreciation and impairment losses. Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each individual item below. Certain financial assets and liabilities are measured at amortised cost to achieve a constant effective interest rate over the life of the asset or liability. Amortised cost is stated as original cost less any repayments plus or minus the cumulative amortisation of any difference between cost and nominal amount. In this way, capital losses and gains are amortised over the life of the asset or liability. Recognition and measurement take into consideration anticipated losses and risks that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date. Income statement External costs External costs include administrative, office, marketing as well as other costs. Financial income and costs Financial income and costs include interest and realised and unrealised foreign exchange gains and losses. Income tax for the year The company is jointly taxed with the consolidated entities in the COWI Group, including foreign subsidiaries of COWI Holding A/S. Income tax for the year, consists of current tax for the year, and is recognised in the income statement. Accounting policies Balance sheet Investments in associates Investments in subsidiaries are initially recognised at cost and subsequently measured using the equity method so that the carrying amount of the investments constitutes the company's proportional share of the net assets of the entities. adjusted to recognise the company's share of the post-acquisition profits or losses and movements in equity. The difference between the cost and the fair value of net assets of the acquired company at the date of acquisition is considered goodwill and reflected in ‘Investment in subsidiaries’ in the balance sheet and amortised on a straight-line basis over the estimated useful life of the investment. Dividends received from subsidiaries reduce the value of the investment. Subsidiaries with a negative net asset value are recognised with zero value, but if the parent company has a legal or constructive obligation to cover the subsidiary’s negative balance, a provision is recognised. Profit after tax of investments in subsidiaries is recognised as a separate line in the income statement. Equity The management’s proposed dividend distribution for the year is disclosed as a separate equity item. Financial liabilities Other accounts payable are measured at amortised cost, materially corresponding to nominal value. Current tax receivables and liabilities and deferred tax Current tax receivables and liabilities are recognised net in the balance sheet as tax computed on taxable income for the year adjusted for tax on taxable income for previous years. Contingent liabilities Contingent liabilities are not recognised in the balance sheet but are disclosed only in the notes. true 4325 1530 -4325 -1530 -4325 -1530 -38664 34827 1722 454 -44711 32843 -436 -541 -44275 33384 -44275 33384 708168 744885 708168 744885 708168 744885 708168 744885 849000 849000 -185099 -142778 663901 706222 44267 38663 44267 38663 44267 38663 708168 744885 849000 -166529 682471 33384 -9633 -9633 849000 -142778 -44275 1954 1954 849000 -185099 The share capital consists of shares of DKK 200,000 class A shares and DKK 649,000 class B shares. The shares consist of shares of each DKK 1,000 or multiples thereof. There have been no changes to the share capital for the last five years. Notes DKK 2023 2022 1. Financial costs Interest, Intercompany -1,722 -454 Financial costs -1,722 -454 2. Tax on profit for the year Current tax for the year 436 541 Tax on profit for the year 436 541 3. Entities owned by COMAR Engineers A/S Name Home Ownership % COWI Belgium SPRL Belgium 10.000000 COWI Tanzania Limited Tanzania 0.045000 COWI India Private Limited India 0.000032 4. Related party transactions and ownership COWI A/S owns all shares in COMAR Engineers A/S. Apart from usual intercompany transactions and usual management remuneration, no transactions were made during the year with the Board of Directors, the Executive Board, managerial employees, principal shareholders, other group companies or other related parties. In accordance with section 98 C(7) of the Danish Financial Statements Act, transactions with related parties at arm's length have not been disclosed. 5. Contingent liabilities The Group's companies are jointly and severally liable for tax on the Group's jointly-taxed income etc. The total amount appears in the annual report for COWI Holding A/S, which is the management company in the joint taxation. 6. Employee conditions The company had no paid employees in 2022 and 2023. Annual report No audit assistance ParsePort XBRL Converter 2023-01-01 2023-12-31 2022-01-01 2022-12-31 2024-04-10 Reporting class B 11798691 1987-07-01 56400000 0 0 2024-04-10 Michael Bindseil Chief Executice Officer Rasmus Ødum Chair Jens Højgaard Christoffersen Natalie G. Shaverdian Riise-Knudsen 11798691 COMAR Engineers A/S Paralellevej 2 2800 Kongens Lyngby